EMCOR Group (NYSE:EME) Sets New 52-Week High at $155.62

EMCOR Group, Inc. (NYSE:EMEGet Rating)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $155.62 and last traded at $155.33, with a volume of 23796 shares trading hands. The stock had previously closed at $152.84.

Analyst Ratings Changes

A number of research firms have commented on EME. KeyCorp increased their price target on EMCOR Group from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, November 4th. StockNews.com began coverage on EMCOR Group in a research note on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Finally, DA Davidson increased their price target on EMCOR Group to $165.00 in a research note on Tuesday, November 1st.

EMCOR Group Stock Performance

The business has a 50 day simple moving average of $131.27 and a 200 day simple moving average of $116.91. The company has a quick ratio of 1.24, a current ratio of 1.28 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $7.38 billion, a PE ratio of 20.83 and a beta of 1.12.

Insider Activity

In other news, CEO Anthony Guzzi sold 7,500 shares of the stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $125.00, for a total value of $937,500.00. Following the transaction, the chief executive officer now directly owns 276,427 shares of the company’s stock, valued at $34,553,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark A. Pompa sold 10,000 shares of the stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $135.00, for a total value of $1,350,000.00. Following the transaction, the chief financial officer now directly owns 101,143 shares of the company’s stock, valued at $13,654,305. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Guzzi sold 7,500 shares of the stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $125.00, for a total value of $937,500.00. Following the completion of the transaction, the chief executive officer now directly owns 276,427 shares in the company, valued at $34,553,375. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,000 shares of company stock valued at $4,632,950. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its holdings in EMCOR Group by 19.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,187 shares of the construction company’s stock worth $370,000 after acquiring an additional 509 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in EMCOR Group during the third quarter worth about $1,024,000. FourThought Financial LLC boosted its position in EMCOR Group by 27.4% during the third quarter. FourThought Financial LLC now owns 633 shares of the construction company’s stock worth $73,000 after purchasing an additional 136 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its position in EMCOR Group by 45.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 20,354 shares of the construction company’s stock worth $2,350,000 after purchasing an additional 6,393 shares in the last quarter. Finally, State Street Corp lifted its position in shares of EMCOR Group by 0.5% in the third quarter. State Street Corp now owns 1,616,854 shares of the construction company’s stock valued at $186,714,000 after acquiring an additional 7,381 shares in the last quarter. 94.08% of the stock is owned by institutional investors and hedge funds.

About EMCOR Group

(Get Rating)

EMCOR Group, Inc provides electrical and mechanical construction, and facilities services primarily in the United States and the United Kingdom. It offers design, integration, installation, starts-up, operation, and maintenance services related to electrical power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation in the refining, chemical processing, and food processing industries; low-voltage systems, such as fire alarm, security, and process control systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.

Further Reading

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